Trust

An arrangement whereby assets are managed, held, and distributed for the benefit of one or more persons or entities (called beneficiaries). Assets in a trust may include money, stocks, bonds, real estate or other possessions. The person(s) making the trust arrangement is called the settlor or grantor. Property held in trust will avoid probate upon the death of the settlor or grantor. Trusts can own and manage property for the benefit of minor children, the disabled, and incapacitated or spendthrift beneficiaries.


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